LPL Financial LLC Cuts Stake in Amdocs Limited (NASDAQ:DOX)

LPL Financial LLC lowered its position in Amdocs Limited (NASDAQ:DOX – Get Rating) by 15.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,073 shares of the technology company’s stock after selling 7,237 shares during the quarter. LPL Financial LLC’s holdings in Amdocs were worth $3,552,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of DOX. Trifecta Capital Advisors LLC purchased a new stake in shares of Amdocs during the fourth quarter valued at approximately $25,000. U.S. Capital Wealth Advisors LLC purchased a new stake in shares of Amdocs during the fourth quarter valued at approximately $47,000. Ellevest Inc. boosted its stake in shares of Amdocs by 1,015.4% during the third quarter. Ellevest Inc. now owns 580 shares of the technology company’s stock valued at $46,000 after purchasing an additional 528 shares during the period. Cullen Frost Bankers Inc. boosted its stake in shares of Amdocs by 2,014.0% during the third quarter. Cullen Frost Bankers Inc. now owns 909 shares of the technology company’s stock valued at $72,000 after purchasing an additional 866 shares during the period. Finally, Zions Bancorporation N.A. purchased a new stake in shares of Amdocs during the first quarter valued at approximately $83,000. Hedge funds and other institutional investors own 88.11% of the company’s stock.

Amdocs Price Performance

DOX opened at $95.27 on Friday. The stock has a fifty day simple moving average of $92.93 and a two-hundred day simple moving average of $90.74. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.21. The company has a market cap of $11.51 billion, a price-to-earnings ratio of 21.70, a price-to-earnings-growth ratio of 1.61 and a beta of 0.66. Amdocs Limited has a 12-month low of $76.79 and a 12-month high of $97.08.

Amdocs Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 28th. Shareholders of record on Friday, June 30th will be issued a $0.435 dividend. The ex-dividend date is Thursday, June 29th. This represents a $1.74 dividend on an annualized basis and a yield of 1.83%. Amdocs’s dividend payout ratio (DPR) is 39.64%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. 888 reissued a “reiterates” rating on shares of Amdocs in a research note on Thursday, May 11th. Robert W. Baird raised their price target on Amdocs from $85.00 to $100.00 and gave the stock a “neutral” rating in a research note on Thursday, February 2nd. Barclays raised Amdocs from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $100.00 to $115.00 in a research note on Tuesday. Oppenheimer raised their price target on Amdocs from $94.00 to $99.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 1st. Finally, StockNews.com initiated coverage on Amdocs in a research note on Thursday. They issued a “buy” rating for the company. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Amdocs presently has an average rating of “Moderate Buy” and a consensus price target of $102.50.

About Amdocs

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Amdocs Ltd. is a holding company, which engages in the provision of software products and services for the communications, entertainment, and media industry service providers. The company was founded in 1988 and is headquartered in Saint Louis, MO.